UGI Corp. prices upsized $610M 5% convertible notes due 2028, conversion at $27.60

UGI CORP /PA/

Offering increased from $600M to $610M; initial purchasers have option for additional $90M.
Notes bear 5.00% interest, mature June 1, 2028; settlement expected June 11, 2024.
Initial conversion rate 36.2319 shares per $1,000 principal, representing a ~20% premium over $23.00 close.
Net proceeds ~$593M ($680.9M if full option exercised); used to refinance existing debt and for general corporate purposes.

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